Chime Financial stock drops 8% due to stablecoins posing threat to traditional payments

From Yahoo Finance: 2025-06-19 14:03:00

Chime Financial, Inc. (NASDAQ:CHYM) saw an 8.13% drop in share prices on Wednesday, closing at $31.65 per share due to Senate’s Stablecoins bill posing a threat to traditional financial tech companies.

Stablecoins, designed to maintain a 1:1 ratio with the US dollar, are used by cryptocurrency traders to transfer funds between tokens, presenting a competitive threat to companies like Chime Financial.

After its stock debut at $37.11, Chime Financial (NASDAQ:CHYM) experienced a 14.7% decline, prompting investors to consider alternative investments in AI stocks with potential for higher returns and lower downside risks.

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Read more at Yahoo Finance: Chime Financial (CHYM) Falls 8% as Stablecoins Threaten Traditional Payments